Seat covers for automobiles manufacturer Tokai Trim Holdings Co. received backing from two companies today. The two investors, J-Star Company and Supply Chain Support Company, did not disclose any financial terms on the preferred shares deal.
J-Star is a private equity firm based in Japan, while Supply Chain is financed by the Development Bank of Japan and the Japan Auto Parts Industries Association.
Tokai Trim Group, the other name of Tokai Trim Holdings Co., supplies seat covers for cars in the Indochinese market. Their target countries are China, Vietnam, and Thailand, and they are currently looking for expansion of their operations, said the company.
In a press statement released today, the Tokai Trim Group noted that the financing will be used to further establish their international processes and device "active and fast paces strategies."
Corporate Directions Inc., was enlisted by Tokai Trim Group for business due diligence, while Baker & McKenzie was enlisted for legal due diligence.
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